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Finance Board Advisory Committee Update: Jun. 17, 2024

June 17, 2024

The Finance Board Advisory Committee met on June 17 to discuss finance-related Board of Education agenda items on the June 18 agenda, and other current topics of interest.

The meeting's School Finance Minute focused on the upcoming bond sale related to Prop R 2024, which was passed by voters in April. The district will sell $55 million of Prop R 2024 general obligation improvement bonds on July 9. The district recently had a credit rating call with S&P Global Ratings.

Finance-related board agenda items include Prop R 2024 Lindbergh High School pool scoreboard and technology upgrades, and Crestwood Elementary School abatement; renewal of employee benefits consulting services; German curriculum purchase; Renaissance eduClimber and FastBridge purchase; and iReady math curriculum purchase. The board will also vote on a bid to convert exterior doors districtwide with alarms and cameras, to support student safety; a memorandum of understanding with the Lindbergh Schools Foundation; a final report for 2023-24 bus routes; 2024-25 tuition rates, and a food service management contract with Southwest Foodservice Excellence. In addition, the board will vote on issuance of General Obligation Bonds and an intent to use Construction Management at Risk method for Prop R 2024 construction projects.

This is the last meeting of the 2023-24 school year. The Finance Advisory Committee exists to ensure transparency, accountability and efficiency in district finances. Committee members discuss areas covered by the district's fiscal management policies. In addition, the Board of Education will direct the specific responsibilities of the committee to review any matters potentially having a significant impact on district finances before the board takes action. This committee is chaired by Chief Financial Officer Joel Scheible.